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Guarantee of Debt Payment for Major Shareholder

2004.07.30 No. 244

1. Name of debtor(major shareholder): Hyundai Card.
    - Relationship with company : Affiliated Company

2. Details of guaranteed debt :
    - Date of guarantee : August 06, 2004
    - Name of creditor : Visa International
    - Contents of principal debts : Breach of contractual
       promise of payment by affiliated merchants and hypothecate
       for liabilities etc.
    - Period of guarantee : From August 06, 2004 To October 30, 2007
    - Amount of guarantee concerned : KRW 1,752,450,000
    - Accumulated balance of debt payment guarantee for
       major shareholder concerned : KRW 4,673,200,000
    - Accumulated balance of debt payment guarantee by Hyundai
       Motor Company for major shareholders from January 1,
       2004 to current date : KRW 364,677,184,000
    - Paid-in Capital at the end of the previous fiscal year :
       KRW 12,497,925,000,000
    - Ratio to Paid-in Capital : 2.92%

3. Decision date (Date of Board resolution) : July 30, 2004
    - attendance of outside directors : -
    - attendance of auditors : -

4. Applicability of Fair Trade Act : No

5. Others:
    - The amounts in #2 above are based on the exchange rates
       for July 30, 2004 (KRW 1,168.30 / 1 USD; KRW 10.4159 /
       1 JPY; KRW 1,405.76 / 1 EUR; KRW 816.12 / 1 AUD).
    - Amounts less than KRW 1,000,000 have been deleted from
       the `Paid-in Capital at the end of the previous fiscal year` in #2 above.
    - The above details may be subject to change depending on the
       the market situation.
    - The above contract may be subject to extension depending
       on the extension of the license agreement between Hyundai
       Card and Visa International.
    - The decision date in #3 above is an internal decision date.
    - Guarantee of Debt Payment for Major Shareholder & Others
       after July 23, 2004 (the last prior KSE announcement date) :

(Unit : KRW millions)
Company Relationship Creditor Period of Guarantee Amount of Guarantee
Hyundai Card Affiliate Visa International 08/06/2004~10/30/2007 1,752
Hyundai Card Affiliate Master CardInternational 08/06/2004~03/12/2012 2,337
Total       4,089
(Unit : KRW millions)
Company Relationship Creditor Period of Guarantee Amount of Guarantee
Hyundai Card Affiliate Visa International 08/06/2004~10/30/2007 1,752
Hyundai Card Affiliate Master CardInternational 08/06/2004~03/12/2012 2,337
Total       4,089

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